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Assessment: As expected, the selling arrived late in the week. I could see it continuing into Election Day as traders protect profits given how high this market got…and the potential chaos following such a major event like the US Presidential Election. If you are up big money and there is no real momentum up…why not lock those gains in? Seems to be the policy, but the question is whether it is over or will continue. I do expect us to see a continued move of another 1-2% leading into Tuesday.
SPY Chart: https://sblk.io/s/74wqfbUdFOSqU6l
Good luck in your trades!